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Adeona Reports 2010 Year End Financial Results

Thu, 03/31/2011 - 2:34am
Bio-Medicine.Org

ANN ARBOR, Mich., March 31, 2011 /PRNewswire/ -- Adeona Pharmaceuticals, Inc. (AMEX: AEN), a developer of innovative medicines for serious central nervous system diseases, today reported its financial results for the year ended December 31, 2010, as well as updates since the beginning of the 4th quarter.

Updates since the beginning of the 4th quarter include:

Clinical Programs

Alzheimer's Disease

  • Adoption of "reaZin" as the new trademark for Adeona's zinc and cysteine-based oral tablet (formerly called Zinthionein) currently under development as a prescription medical food for the dietary management of Alzheimer's disease and mild cognitive impairment.
  • Completion of the treatment phase of the pivotal clinical trial evaluating the zinc and cysteine-based product candidate, reaZin in patients with Alzheimer's disease and mild cognitive impairment. Results from this clinical trial are expected to be presented at the 63rd Annual Meeting of the American Academy of Neurology in April of 2011 by Lead Principal Investigator, Diana Pollock, M.D.

Multiple Sclerosis

  • Receipt of an additional $409,426 in grant funding from the National Multiple Sclerosis Society for the clinical trial evaluating Adeona's drug candidate, Trimesta™ (oral estriol).
  • Enrollment of 127 of 150 patients (85%) in the clinical trial evaluating Trimesta in women suffering from relapsing-remitting multiple sclerosis, as of March 2, 2011. The randomized, double-blind, placebo-controlled clinical trial is currently underway at 15 centers in the United States. We anticipate full enrollment by the second half of 2011.

Operations

  • Execution of an agreement for the sal

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